Healthcare Services Group (NASDAQ:HCSG) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Healthcare Services Group (NASDAQ:HCSG - Free Report) from a buy rating to a hold rating in a research report released on Saturday morning.

Other equities analysts have also issued research reports about the stock. Benchmark reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Healthcare Services Group in a research note on Thursday, October 24th. Robert W. Baird decreased their target price on Healthcare Services Group from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $14.00.

Healthcare Services Group Trading Down 2.7 %

Shares of Healthcare Services Group stock traded down $0.35 on Friday, reaching $12.54. 368,373 shares of the company were exchanged, compared to its average volume of 486,194. Healthcare Services Group has a fifty-two week low of $8.98 and a fifty-two week high of $13.00. The firm has a market capitalization of $919.07 million, a price-to-earnings ratio of 18.17 and a beta of 0.55. The stock has a fifty day moving average price of $11.48 and a 200-day moving average price of $11.04.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. The firm had revenue of $428.10 million for the quarter, compared to the consensus estimate of $429.95 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Healthcare Services Group will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Healthcare Services Group

A number of institutional investors have recently bought and sold shares of HCSG. Headlands Technologies LLC raised its stake in shares of Healthcare Services Group by 44.4% during the 2nd quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider's stock worth $33,000 after purchasing an additional 955 shares in the last quarter. Tidal Investments LLC lifted its stake in Healthcare Services Group by 1.7% in the third quarter. Tidal Investments LLC now owns 78,218 shares of the business services provider's stock valued at $874,000 after acquiring an additional 1,276 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Healthcare Services Group by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 28,368 shares of the business services provider's stock valued at $300,000 after acquiring an additional 1,311 shares during the last quarter. ClariVest Asset Management LLC grew its position in Healthcare Services Group by 1.2% in the second quarter. ClariVest Asset Management LLC now owns 152,278 shares of the business services provider's stock worth $1,611,000 after acquiring an additional 1,740 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Healthcare Services Group by 804.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider's stock worth $30,000 after purchasing an additional 2,428 shares during the last quarter. Institutional investors and hedge funds own 97.97% of the company's stock.

About Healthcare Services Group

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.